OCBC Bank expects two-digit profit growth this year
ALOR SETAR: OCBC Bank (Malaysia) Bhd (OCBC Bank) expects to record a higher two-digit profit growth this year, higher than its net profit recorded last year.
Director and chief executive officer Jeffrey Chew however did not mention the targeted earnings or profits.
He said the profits would be contributed from its retail and commercial businesses encompassing real estate, construction, agriculture, manufacturing and trading.
“The bank’s overall premier banking customer base grew 30 per cent last year, with five new premier banking centres introduced over the last six months, bringing the total to 23 centres nationwide.
“Two more premier banking centres will be added at the end of the year,” said Chew at a press conference after the opening of the OCBC Alor Setar branch on Jalan Gangsa here yesterday.
He said to meet the demands of businesses throughout the country, the bank currently had a force of over 300 branch-based and mobile sales staff on the move nationwide to see to the needs of small and medium enterprises, a segment that remained important to OCBC.
Chew said OCBC was firmly committed to the ideals of the Financial Services Blueprint 2011-2020 (FSB) released by Bank Negara Malaysia in 2011.
“The FSB envisions that as the country transitions towards a high value-added and high-income ecconomy, the role of the financial sector will grow beyond its role as an abler of growth to be a key driver and catalyst of economic growth.
“We at OCBC Bank are firmly committed to this ideal and our efforts are reflective of it,” said Chew adding that its nationwwide branch transformation initiative aimed at offering customers enhanced levels of service, interaction and convenience.
On the new- look Alor Setar branch, Chew said OCBC invested RM5 million to relocate the bank.
“The bank features for the first time a premier banking centre and more than 500 safe deposit boxes for rental to cater to the needs of the bank’s high net worth customers,” he said.
On the business focus in Kedah, he said: “The state’s industrial sector now is important with its traditional focus on agriculture.
“We have seen high tenchnology and heavy industries growing in Bukit Kayu Hitam, Mergong ( Alor Setar), Gurun, Sungai Petani and Kulim Hitech Park in Kulim.” — Bernama